Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said bigger merger and acquisition deals likely will not occur soon, but the company is currently in discussions regarding smaller purchases that could take place at any time.
IATA: Air cargo takes off in first half 2017
Global airfreight demand grew in excess of 10 percent for the first six months of 2017, the strongest first half performance since 2010, according to recent data from the International Air Transport Association (IATA).
New PANYNJ executive director, board chair named
The governors of New York and New Jersey on Aug. 2 announced the appointments of Kevin O’Toole as board chair and Rick Cotton as executive director of the Port Authority of New York and New Jersey (PANYNJ).
DSV earnings skyrocket in Q2 2017
The Danish global transport and logistics provider posted profits of 744 million Danish krone on net revenues of DKK 18.9 billion for the quarter, year-over-year increases of 122.8 percent and 7.5 percent, respectively.
Australia fines NYK $25m for cartel behavior
The Australian Federal Court has fined the ocean carrier for price fixing between 2009 and 2012, imposing the second highest fine in the history of the Australian Competition and Consumer Commission, reports TradeWinds.
IANA: Q2 2017 intermodal volume growth strongest in years
Total intermodal volumes gained 4.5 percent during the second quarter of 2017, with international traffic being the primary driver, rising 5.6 percent, according to recent statistics from the Intermodal Association of North America (IANA).
Australian investment firm to pay $869m for stake in Turkish port
IMF Investors has sealed a deal to pay $869 million to Akfen Holding for a 40 percent stake in Turkey’s second-largest seaport, according to multiple local media outlets.
Schneider profits down in first half 2017 despite Q2 growth
Truckload, intermodal and logistics provider Schneider National reported a net income of $46.5 million for the second quarter of 2017, or $0.27 per diluted share, an increase of 5.2 percent, compared to the three months ended June 30, 2016.
AAR: U.S. rail traffic rises 2.5% in July
Although carload volumes dropped 0.6 percent for the month, a 5.6 percent increase intermodal traffic spurred continued growth in overall rail volumes in July 2017, according to the Association of American Railroads.
Milaha profits plummet 51% in first half 2017
The Qatar-based maritime transport and logistics company saw revenues drop drastically across all sectors due to what it characterized as an “unusually prolonged global downturn” in the shipping market.